Shandong Sunpaper Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	2,198	3,235	2,496	2,387	3,468
Short-Term Investments	-	-	7.62	-	-
Trading Asset Securities	-	-	-	4.26	-
Cash & Short-Term Investments	2,198	3,235	2,503	2,391	3,468
Cash Growth	-32.05%	29.22%	4.69%	-31.05%	16.70%
Accounts Receivable	4,444	3,952	4,511	3,856	2,922
Other Receivables	67.27	46.5	54.89	56.19	149.59
Receivables	4,512	3,999	4,566	3,912	3,072
Inventory	5,477	4,752	4,574	5,339	3,506
Prepaid Expenses	-	0.01	-	0	2.92
Other Current Assets	1,327	776.4	1,224	946.01	1,202
Total Current Assets	13,514	12,762	12,868	12,588	11,251
Property, Plant & Equipment	41,691	36,597	34,567	32,177	28,217
Long-Term Investments	456.66	437.25	412.54	385.53	386.6
Goodwill	19.31	19.31	19.31	39.41	39.41
Other Intangible Assets	2,263	2,068	1,883	1,767	1,274
Long-Term Deferred Tax Assets	221.27	305.44	332.89	290.63	235.02
Long-Term Deferred Charges	42.86	63.18	56.59	100.27	118.92
Other Long-Term Assets	381.16	375.04	411.25	674.47	1,184
Total Assets	58,589	52,626	50,551	48,022	42,706
Accounts Payable	5,417	4,853	4,815	5,032	5,105
Accrued Expenses	1,031	883.43	813.76	793.14	757.23
Short-Term Debt	7,978	6,417	8,079	8,169	7,698
Current Portion of Long-Term Debt	2,906	3,227	1,724	1,708	2,525
Current Portion of Leases	127.06	342.25	408.13	589.63	547.59
Current Income Taxes Payable	275.4	263.8	205.13	140.92	188.9
Current Unearned Revenue	708.51	791.37	580.97	527.7	371.63
Other Current Liabilities	192.78	208	253.51	487.64	677.82
Total Current Liabilities	18,636	16,986	16,879	17,448	17,871
Long-Term Debt	8,934	6,426	6,702	6,640	5,391
Long-Term Leases	21.51	148.2	483.97	427.74	506.47
Long-Term Unearned Revenue	375.9	329.42	319	321.13	146.47
Long-Term Deferred Tax Liabilities	9.4	9.69	10.01	9.63	4.2
Other Long-Term Liabilities	-	-	1.03	1.03	-
Total Liabilities	27,977	23,899	24,395	24,847	23,920
Common Stock	2,795	2,795	2,795	2,795	2,687
Additional Paid-In Capital	3,643	3,643	3,632	3,574	2,426
Retained Earnings	23,522	21,389	19,126	16,599	14,327
Treasury Stock	-	-	-98.45	-303.7	-520.05
Comprehensive Income & Other	542.57	787.26	597.03	420.33	-214.85
Total Common Equity	30,502	28,614	26,051	23,085	18,706
Minority Interest	109.95	112.91	104.11	89.67	80.84
Shareholders' Equity	30,612	28,727	26,155	23,175	18,786
Total Liabilities & Equity	58,589	52,626	50,551	48,022	42,706
Total Debt	19,967	16,560	17,397	17,534	16,668
Net Cash (Debt)	-17,769	-13,325	-14,894	-15,143	-13,201
Net Cash Per Share	-6.34	-4.77	-5.31	-5.61	-4.96
Filing Date Shares Outstanding	2,795	2,795	2,795	2,795	2,687
Total Common Shares Outstanding	2,795	2,795	2,795	2,795	2,687
Working Capital	-5,122	-4,224	-4,011	-4,860	-6,621
Book Value Per Share	10.91	10.24	9.32	8.26	6.96
Tangible Book Value	28,220	26,527	24,149	21,279	17,392
Tangible Book Value Per Share	10.10	9.49	8.64	7.61	6.47
Buildings	14,761	12,557	11,949	10,069	9,030
Machinery	43,979	37,391	36,493	31,024	29,776
Construction In Progress	1,909	3,466	572.77	3,273	294.19

Source: S&P Global Market Intelligence. Standard template. Financial Sources.